Best Micro Currency Trading Platforms

Our best micro currency trading broker list in May 2024 is the following

  • Pepperstone - Best Micro Trading Forex Broker
  • City Index - Micro Trading With Best Trading Tools
  • Plus500 - Top Risk Management With 0.1 Lot Contracts
  • eToro - Top Social Trading With Micro Account
  • FxPro - Top Micro Lot Trading With cTrader
  • HF Markets - Has a Cent account with MT4 and MT5
  • OANDA - Good Nano Lot Broker For Beginners
Broker Review Our Rating Regulation Standard
EUR/USD
Spread
Standard
GBP/USD
Spread
Standard
AUD/USD
Spread
Raw
EUR/USD
Spread
Raw
GBP/USD
Spread
Raw
AUD/USD
Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage Visit Broker
98 SCB, ASIC
FCA, CySEC
1.10 1.40 1.20 0.10 0.40 0.20 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
66 ASIC, MAS, FCA 0.70 1.1 2.2 0.07 0.011 0.8 $2.50 95ms $150 84+ 25+ 30:1 500:1 Visit Site
57 ASIC, CySEC, MAS
FCA, FMA, DFSA
EFSA, FSA, FSCA
1.70 2.3 1.4 - - - - 140ms $100 71+ 15+ 30:1 300:1 Visit Site
43 ASIC, CySEC, MFSA
FCA, FSA, FINRA
GFSC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
61 FCA, FSCA
CySEC, SCB, FSCM
1.32 1.7 1.95 0.32 0.37 0.51 $3.50 151ms $0 69+ 30+ 30:1 200:1 Visit Site
81 FCA, CIRO, ASIC
MAS, JFSA, FSC-BVI
KNF, NFA/CFTC, MFSA
0.6 0.9 0.7 - - - - - $0 70+ 4+ Visit Site
46 FCA, FSCA, CYSEC
DFSA,CMA,FSA
1.2 1.9 1.8 0.1 0.3 0.7 $3.00 $0 38+ 19+ Visit Site
 

What Are The Best Micro Currency Trading Platforms?

Micro currency trading involves trading in lots of 1000, rather than the usual 100,000. Some brokers offer micro-trading accounts, which allow this type of niche trading. As such, we have come up with our picks for the brokers with the best micro currency trading platforms in Australia.

1. Pepperstone Best Micro Trading Forex Broker

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 0.1
GBP/USD = 0.4
AUD/USD = 0.2

Trading Platforms

MT4, MT5, cTrader, TradingView

Minimum Deposit

$0

Why We Recommend Pepperstone

Pepperstone is our top choice for micro trading with CFDs/ With no minimum deposit fewer of your own funds are needed to trade 0.1 lots.

We also like the low spreads, averaging just 0.1 pips on EUR/USD Razor accounts, and order execution speed of77 ms for limit orders as per our tests.

The availability of versatile platforms—MetaTrader 4 (MT4), MetaTrader 5, cTrader, and TradingView—solidifies Pepperstone’s position as the preferred choice for micro-lot trading.

Pros & Cons

  • Low commission of just $3.50
  • Responsive 24/7 customer support
  • No minimum deposit for RAW accounts
  • 90-day limit on the demo account
  • Limited educational resources
  • No swap-free account in Australia, the UK and Europe

Broker Details

The Broker With The Best Micro Currency Platform Range

Pepperstone is a top CFD and forex brokerage that offers a range of features ideal for micro trading. You gain access to ultra-competitive trading conditions with tight spreads, fast order execution, and trade sizes as small as 0.01 lots. You can choose between three trading platforms all well-suited to micro trading strategies – being MetaTrader 4 (MT4), MetaTrader 5, and cTrader.

Who Should Use Micro Trading Accounts?

Regardless of your trading experience, micro accounts can be a great approach to managing the high risk that comes with forex trading in the global markets. The key benefits to micro trading include:

  • Compared to standard and mini accounts, a much smaller capital outlay is needed to start micro trading.
  • As you are entering the foreign exchange markets using smaller lot sizes losses are limited and you are not exposing yourself to as much risk even when the markets experience high volatility.
  • Experienced traders can trade a wider and diverse range of FX pairs using smaller lots.

If you are a beginner forex trader just starting out, trading smaller lot sizes is a great way to reduce costs and risks. While experienced traders can use micro accounts to test sophisticated trading strategies against real-time market conditions before using larger lot sizes.

Account Types for Micro Trading with Pepperstone

The broker offers two trading accounts with different spread and fee structures. Regardless of which account you use, you can trade micro-lots (0.01 standard lots) and above.

  1. Razor Account: ECN-style spreads as low as 0.0 pips with low commission fees of $3.50 per side (per 100,000 traded).
  2. Standard Account: Commission-free spreads starting from 1.0 pip.

pepperstone account international 1 pips

Regardless of whether you choose the Pepperstone Standard account (with no commissions) or the Razor account with commissions of $7.00 per standard lot, you can be certain you are getting competitive spreads with Pepperstone. The below module compares Pepperstone’s Razor account with other brokers, these average spreads are compiled using published spreads from each broker’s website and updated each month. While spreads change each month, Pepperstone spreads generally stand up very well against other brokers with similar style accounts.

IC Markets Raw Account Spreads
0.10 0.60 0.40 2.40 0.20
0.20 0.50 0.40 1.50 0.20
0.02 0.23 0.27 0.85 0.17
0.10 0.30 0.30 1.40 0.20
0.17 0.59 0.54 N/A 0.30
0.20 0.60 0.50 10.00 0.40
0.10 0.60 0.60 1.30 0.50
n/a 0.20 0.60 3.10 0.50
0.44 0.85 0.40 1.30 0.42

Avg. spreads are taken from each broker's website and updated monthly. Last update on 05/01/2024

Compare All Low Spread Forex Brokers

 

Pepperstone offers some of the best spreads through its Razor Account of all brokers. The calculator below calculates your spread costs plus commission when you open a trade.

Calculate Your Trading Costs Below

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Trading Platforms

Pepperstone’s full range of 60+ forex pairs can be traded as micro-lots via MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader. As MT4 is a forex trading platform with advanced trading tools, it is ideal for micro trading and risk management.

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are some of the most popular platforms designed for retail investor accounts. MT4 is predominately a forex trading platform, although Pepperstone clients can also access other financial markets on MT4 like cryptocurrencies, commodities, and indices. MT5, on the other hand, is a multi-asset platform with access to share markets as well.

pepperstone trading platform

You can use multiple devices to conduct in-depth technical analysis and place orders. As well as the online trading platform (WebTrader), desktop platforms are available for Windows and Mac computers, plus mobile apps for both iOS and Android devices.

Forex Trading Tools

While trading smaller lot sizes helps to minimise potential losses, there are plenty of trading tools that can supplement micro trading strategies.

  • Advanced inbuilt charting tools with different technical indicators, graphical objects, and timeframes that can be used to identify opportunities.
  • Automated trading with algorithmic (Expert Advisors and cBots) or social-copy trading features.
  • Expert Advisors and cBots can be used to automate micro trading strategies. Trading robots can be backtested against historical market data.
  • Social trading strategies can be achieved using MetaTrader’s Trading Signals or third-party account mirroring services (DupliTrade and Myfxbook).
  • Risk management tools with multiple order types (i.e. limit and stop-loss orders).

Pepperstone MT4 Micro Trading

As well as the standard MT4 trading tools, the broker offers premium add-ons free of charge. Pepperstone’s Smart Trader Tools provides 28 extra technical indicators and Expert Advisors that can help manage risk and maximise gains.

Getting Started

If you want to start trading right away, you can easily sign up for a Pepperstone account online. No initial minimum deposit is required to open an account, but the broker does recommend at least $200. Depositing and withdrawing money from your trading account is easy with a good range of funding methods:

  • Credit Card: Visa, Mastercard and Union Pay.
  • e-Wallet: PayPal, NETELLER, Skrill, BPAP and POLi.
  • Bank transfer and international wire transfers.

Pepperstone Fuding Micro Trading

Depending on the subsidiary you open an account with, any of these local currencies can be used as your base currency.

  • If you sign up to the ASIC, SCB or DFSA regulated branches you can choose either the USD, CAD, GBP, EUR, CHF, AUD, NZD, SGD, HKD AND JPY.
  • If you are an FCA-regulated Pepperstone client, you are restricted to the EUR, GBP, USD or CHF.

Demo Accounts

If you are unsure whether Pepperstone and MT4 suit your trading needs, you can sign up for a free demo account. You are provided with a virtual account balance, meaning you can practice trading micro-lots in real-time market conditions before using real money.

Pepperstone Benefits Micro Trading

Pepperstone is a multi-regulated Australian broker. Clients all over the world can trade with Pepperstone as it’s licenced and regulated by ASIC (Australia), FCA (UK), CySEC (Europe), BaFin (Germany and Austria), the DFSA (Dubai Financial Services Authority), Kenya (CMA) and the SCB (Securities Commission of the Bahamas).

Note: Pepperstone UK does not offer cryptocurrency as required by FCA regulations. This is because the FCA believes that currencies that exist on the blockchain and cryptocurrency exchanges are too high-risk and speculative for retail traders.

Our Verdict On Pepperstone

Pepperstone was rated the top forex broker in 2024 and is also considered the best broker for trading micro lots as it offers tight spreads while charging low commission fees. To develop micro trading strategies, you are able to use a sophisticated range of inbuilt and add-on tools.

View Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘74-89% of retail CFD accounts lose money’

2. City Index Micro Trading With Best Trading Tools

City Index

Forex Panel Score

66

Average Spread

EUR/USD = 0.07
GBP/USD = 0.011
AUD/USD = 0.8

Trading Platforms

MT4, TradingView, Web Trader

Minimum Deposit

$0

Why We Recommend City Index

With low commission-free spreads averaging 0.7 pips for EUR/USD, a low minimum deposit of $150, and a guaranteed stop-loss order, we think City Index choices for micro trading.

We like the performance analytics feature with the City Index trading platforms which is like a trading coach to help you be a better trader.

Pros & Cons

  • Very fast limit order execution speed
  • Good for scalp trading
  • Feature-rich mobile app
  • No withdrawal or deposit fees
  • Minimum deposit of $150
  • No social/copy trading data
  • No interest-free Islamic account

Broker Details

The Broker That Has Good Micro Trading On MT4

With low commission-free spreads, no initial minimum deposit requirements, and smaller lot sizes, City Index is one of the best brokers for micro trading on MetaTrader 4 (MT4). As well as competitive pricing, you can utilise different analysis and risk management tools on MetaTrader 4 among other trading platforms.

Forex Market and Spreads

City Index spreads are very competitive when compared to other brokers offering online trading. Other than the GBP/USD and EUR/GBP where Pepperstone offers some of the best spreads, City Index consistently offers some of the tightest spreads across the board. For major currency pairs like the EUR/USD and USD/JPY, City Index customers can trade with average spreads of 0.80 pips commission-free. The broker offers over 85 different major, minor and exotic currency pairs with minimum spreads starting from 0.50 pips. 

0.70 2.20 1.10 1.60 1.60
1.10 1.20 1.40 2.00 1.50
1.90 2.00 2.40 2.30 2.50
1.40 2.50 2.50 2.60 2.60
1.20 1.80 1.90 2.30 2.30
1.32 1.95 1.37 1.87 1.73
1.30 1.70 2.10 1.70 2.10

Avg. spreads are taken from each broker's website and updated monthly. Last update on 05/01/2024


City Index Forex Pairs Micro Trading

Micro Trading: What is a Micro Lot?

Micro, mini and standard lot sizes are the most commonly traded contract sizes by retail investor accounts. City Index offers flexible contract sizes with micro, mini and standard lots available for most major and minor forex pairs. When trading certain exotic FX pairs you are restricted to micro-lots.

  • 1 micro lot = 1,000 units of base currency
  • 1 mini lot = 10,000 units (10 micro lots)
  • 1 standard lot = 100,000 units (10 mini lots, 100 micro lots)

MT4 Trading Platform

City Index is a great option for micro trading on MetaTrader 4. The software is available as a desktop platform, WebTrader platform, or mobile apps. MetaTrader 4 provides a good selection of trading tools that can be used to develop trading strategies and stay on top of market changes, such as:

  • Access to a diverse range of financial markets and asset classes – forex, commodities, and indices.
  • Advanced charting tools with various technical indicators, drawing tools, objects, and timeframes on MT4.
  • Price alerts and notifications.
  • As well as trading micro-lots, you can use different types of pending orders to manage the high risk of forex and CFD trading.

Trading Account Types

The broker offers three main retail investor accounts suited to different levels of trading experience and volume. Micro, mini and standard contract sizes are available for the following:

  • Trader Account (Standard Account): The broker’s main account type that is ideal for micro trading with no minimum deposit and tight commission-free forex spreads.
  • Premium Trader (VIP Account): If you make a minimum deposit and maintain an account balance of $10,000 you can access premium customer support and earn cash rebates as a VIP.
  • Professional Trader: Experienced traders with satisfactory income, net assets and/or annual trading volumes are eligible for a professional trading account.

city index account types international overview
Safety & Regulation

As forex and CFDs are complex instruments that carry a high level of risk, it’s important to sign up to a trusted online broker. City Index is well respected as it is regulated by multiple tier-one financial authorities.

  • City Index AU: Australian Securities and Investments Commission (ASIC)
  • City Index SG: The Monetary Authority of Singapore (MAS)
  • City Index UK: Financial Conduct Authority (FCA)
  • City Index Dubai: UAE Central Bank Licence (operating as a City Index UK representative).

City Index: Overall

City Index takes the top spot thanks to tier-1 regulation, thousands of financial instruments, competitive pricing, and flexible lot sizes. There are trading tools suitable for each level of trading experience with MetaTrader 4, making it well-suited to all micro traders.

City Index Best Broker Micro Trading

3. Plus500 Top Risk Management With 0.1 Lot Contract

Plus500

Forex Panel Score

57

Average Spread

EUR/USD = 1.7
GBP/USD = 2.3
AUD/USD = 1.4

Trading Platforms

Plus500 Trading Platform

Minimum Deposit

$100

Why We Recommend Plus500

We think Plus500 is well-suited if you need risk management tools and a simple pricing structure. Features such as flexible contract sizes, premium order types, and top-tier regulations make Plus500 a great option for micro trading and risk management.

When trading with Plus500, Plus500 does not use ‘lots’ as part of its terminology. Instead. A Lot with Plus500 is called a ‘Unit Amount’.

Pros & Cons

  • Regulated by ASIC, FCA, CySEC
  • Customer support is available 24/7
  • Variety of supported payment methods
  • No RAW trading account
  • $100 minimum deposit
  • No support for the MT5 trading platform

Broker Details

The Broker That Has Risk Management Tools With 0.1 Lots

Plus500 is well-suited to forex traders wanting strong risk management features and a simple pricing structure. Features such as flexible contract sizes, premium order types, and top-tier regulations make Plus500 a great option for micro trading and risk management.

When trading with Plus500, Plus500 does not use ‘lots’ as part of its terminology. Instead. A Lot with Plus500 is called a ‘Unit Amounts’. Where $€‎£ = 1. So $€‎£ 1000 units will be the minimum amount for currency pairs. This is equal to one micro-lot.

Plus500 Benefits Micro Trading

As a market maker broker, Plus500 only offers no commission spreads with no ECN-style account type available. With the combination of commission-free trading and various risk management tools, beginners can ease themselves into CFD trading by trading micro-lots of a range of asset classes such as:

  • Forex
  • Commodities
  • Indices
  • Options
  • Shares

Plus500 Markets Micro Trading

When micro trading with Plus500 you can place both basic and premium order types to manage the high risk of forex and CFDs:

  • Stop Limit/Stop Loss: This allows you to predefine an exit point to protect profits and minimise losses (close at profit or close at loss). This basic order type carries the risk of slippage occurring.
  • Guaranteed Stop Loss Order (GSLO): You can pay a small fee to eliminate the risk of slippage that can happen with basic order types. GSLO’s guarantee your position will be closed at the price you have specified, regardless of gapping.
  • Trailing Stop: Helps with locking in profits by keeping the order open if prices are moving in a favourable direction but automatically closing it if the financial instrument’s price changes direction by a certain number of pips. Free of charge, slippage may occur.

Plus500 Risk Management Order Types Micro Trading
Regulation

As well as using risk management tools, signing up with a trusted and highly regulated broker helps reduce the high risk of trading. Established in 2008, Plus500 is listed on the London Stock Exchange and overseen by an array of top-tier financial authorities. Each location provides different levels of investor protection, yet one common policy is segregating client funds from operational capital.

Plus500 Risk Management Micro Trading

The investor protection you are provided as a retail forex trader varies between Plus500 subsidiaries. Likewise, maximum leverage limits differ depending on the broker’s local financial regulation. You can sign up to one of the following Plus500 entities:

  • Australia (Australia, NZ, South Africa and Dubai): The Australian Securities and Investments Commission – ASIC maximum leverage 30:1
  • United Kingdom: The Financial Conduct Authority – FCA maximum leverage 30:1
  • Cyprus (Europe): The Cyprus Securities and Exchange Commission CySEC – maximum leverage 30:1
  • Singapore: The Monetary Authority of Singapore – MAS maximum leverage 20:1
  • Kenya: The Capital Markets Authority – CMA maximum leverage 400:1
  • Seychelles (Global): The Seychelles Financial Services Authority FSA – maximum leverage 500:1

Plus500: Overall

Ideal for beginner traders with little experience, Plus500 offers great risk management tools to minimise potential losses when forex trading. Both micro-lots and premium order types are offered by the broker, allowing you to trade more preciously than with standard lots and order types.

4. eToro Top Social Trading With Micro Account

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1
GBP/USD = 2
AUD/USD = 1

Trading Platforms

eToro Trading Platform

Minimum Deposit

$50

Why We Recommend eToro

eToro is one of the most popular brokers for social-copy trading. Millions of users from 140+ countries copy trade with eToro, meaning you gain access to one of the largest forex communities currently available.

5000+ assets to trade are available mostly commission-free with spreads averaging 1 pips for the EUR/USD pair.

Interestingly, eToro measures currency trades in micro lots instead of standard lots or currency units by default.

Pros & Cons

  • Offers a swap-free Islamic account
  • Zero commission trading
  • Regulated by ASIC
  • No support for a RAW account
  • Has a minimum deposit of $500
  • Doesn’t support MetaTrader 4 or 5

Broker Details

The Broker That Has Top Social Trading With 1000 Units

best social trading brokereToro is one of the most popular brokers for social-copy trading. Millions of users from 140+ countries copy trade with eToro, meaning you gain access to one of the largest forex communities currently available.

eToro Copy Trading Micro Trading

Compared to manual trading that requires skill and time, social-copy trading is great for beginners as you don’t need to perform complex technical analysis when first starting out. Instead, you can simply copy the trading strategies of experienced investors.

eToro How to Copy Trade Micro Trading

As well as social-copy trading, eToro offers the following features and benefits:

  • Flexible lot sizes with micro (1000 units) and mini (10,000) lots available in addition to standard position sizes (100,000).
  • Six different asset classes can be traded and copied – forex, commodities, indices, ETFs and shares.
  • Regulated by top-tier financial authorities including the Australian Securities and Investments Commission (ASIC),  the Financial Conduct Authority, UK (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

eToro: Overall

eToro is one of the most popular social trading brokers. You gain access to a large forex and CFD trading community where you can execute your own analysis and orders or simply copy the strategies of more experienced traders.

5. FxPro Top Micro Lot Trading With cTrader

FxPro

Forex Panel Score

61

Average Spread

EUR/USD = 0.2
GBP/USD = 0.2
AUD/USD = 0.5

Trading Platforms

MT4, MT5, cTrader, FxPro Trading Platform

Minimum Deposit

$100

Why We Recommend FxPro

We appreciate FxPro for its diverse accounts, notably the cTrader account facilitating micro lot trading allowing for precision trading.

With average spreads of 0.32 pips for EUR/USD, 260+ tradable instruments, and advanced platforms like cTrader, MT4, MT5 and FxPro platform, the broker accommodates various trading preferences.

Their educational resources and responsive support contributed to the positive experience we had.

Pros & Cons

  • Supports three different trading platforms
  • No minimum deposit
  • Offers an Islamic account
  • 9/5 customer support availability
  • Can charge a $5 monthly inactivity fee

Broker Details

The Broker That Trades Low Volume Lots With cTrader

FxPro is a popular broker if cTrader is your platform of choice. As well as the ability to trade lot sizes as small as 0.01 (micro lots) you will gain access to competitive floating spreads and excellent trading tools.

FxPro cTrader Platform Micro Trading
cTrader Trading Tools

  • Technical analysis tools with over 55 indicators, 26 timeframes and 4 chart types.
  • Automated trading can be achieved by writing cBots using the platform’s programming language C#.
  • Depth of market pricing plus market sentiment data.
  • Risk management tools with 6 different pending order types.
  • Available as a desktop and web trader platform as well as mobile trading apps for Android and Apple devices.

FxPro cTrader Micro Trading

When setting up your FxPro cTrader account, you will need to deposit at least $100 USD. For each trade, you’ll pay a flat rate commission fee that varies between forex pairs and your account’s base currency. To help you calculate commission costs as you trade, the broker offers a calculator online where you can determine your trading costs.

FxPro Commission Calculator Micro Trading
FxPro: Overall

FxPro is a popular broker favoured by many cTrader users. Predominately a forex trading platform, cTrader provides an excellent range of trading tools to help you develop sophisticated strategies. Automation can be achieved using cBots, while risk can be managed with different pending order types.

6. HFM Has a Cent account with MT4 and MT5

HFM

Forex Panel Score

50

Average Spread

EUR/USD = 0.6
GBP/USD = 0.7
AUD/USD = 0.1

Trading Platforms

MT4, MT5

Minimum Deposit

$0

Why We Recommend HF Markets

We added HFM (formerly Hot Forex) to this list for this Cent Account. This account allows you to not only trade in cent lots (i.e. 1000 lots) but also swap-free, To open a trade, the margin requirement can therefore be as low as 10 cents making HFM a great choice if you are a novice trader wanting to keep your funds to a minimum.

Pros & Cons

  • Regulated by FCA and CySEC
  • Supports MetaTrader 4 and 5
  • Low commission of just $3.0
  • Doesn’t support PayPal
  • Limited base currency support
  • Copy trading requires €300

Broker Details

The Broker That Has Good Micro Position Sizing With High Leverage

HotForex offers a Micro Account designed for beginner traders wanting to trade smaller volumes. To open a Micro Account an initial deposit of $5 is needed, with the small capital outlay making it accessible to many new traders.

ig trading accounts us

While the broker’s other account types provide leverage up to 500:1, Micro Account holders can access a much higher maximum leverage of 1000:1.

HotForex is regulated by 6 different financial authorities around the globe, and depending on the subsidiary you sign up with, you may not be able to sign up to a micro trading account and access 1000:1 leverage.

HotForex Regulation Micro Trading

HotForex’s European branch does not offer Micro Accounts. With the aim of reducing risk for traders, financial regulators in certain jurisdictions enforce leverage caps. For instance, CySEC in Cyprus and the FCA in the UK restrict leverage to a maximum of 30:1. Similarly, in accordance with the UAE’s financial regulation, HotForex’s Dubai (DFSA regulated) branch cannot offer micro accounts or leverage over 50:1.

HotForex Features Micro Trading

Registering with the brokers Seychelles-based subsidiary will allow you to use 1000:1 leverage. Yet, trading with extremely high leverage carries a high risk of losing money. Although you are trading smaller lots which helps limit your losses, it is best to incorporate strong risk management tools (i.e. order types) when trading with such high leverage.

HotForex: Overall

HotForex offers double the maximum leverage than most forex brokers. Although such high leverage can dramatically enhance your profits, you are taking on significantly higher risk. Please note, the broker’s maximum leverage limits vary between financial jurisdictions.

7. OANDA Good Nano Lot Broker For Beginners

OANDA

Forex Panel Score

81

Average Spread

EUR/USD = 1.4
GBP/USD = 2
AUD/USD = 1.4

Trading Platforms

MT4, TradingView, OANDA Trade (fx Trade)

Minimum Deposit

$0

Why We Recommend OANDA

We are impressed that OANDA allows you to go one step further than micro trading, offering nano trading on their proprietary trading platforms. While a micro lot equates to 1,000 currency units, with OANDA there are no restrictions on position sizes and you can trade as little as 1 unit of currency.

To access nano lots, you will need to use OANDA Trade, which we think is a good thing as the platform has other tools like a guaranteed stop loss. We also like that OANDA has no minimum deposit.

Pros & Cons

  • No minimum deposit
  • Has a good in-house trading platform
  • Responsive customer support
  • $10 commission round-turn
  • No option for an Islamic account
  • Doesn’t support MetaTrader 5

Broker Details

The Top Broker For Nano Lot Trading

OANDA goes one step further than micro trading, offering nano trading on their proprietary trading platforms. While a micro lot equates to 1,000 currency units, with OANDA there are no restrictions on position sizes and you can trade as little as 1 unit of currency.

Oanda Nano Trading Micro Trading

Nano lot trading is a great option for beginners, as it means you won’t take on excess risk when you are still learning the ropes. As you build confidence, you can start trading larger volumes, for instance, 100,000 nano lots.

Although OANDA offers MetaTrader 4 as well, nano trading is only accessible on the broker’s proprietary platform. The software is available as mobile apps for Android and iOS devices, as well as a WebTrader and desktop trading platform.

Oanda WebTrader Micro Trading

All versions of the platform offer different features to help you develop trading strategies, providing both technical and fundamental analysis tools. No minimum deposit is required to open a trading account with OANDA.

OANDA: Overall

OANDA is unique in the sense that it enforces no restrictions on minimum trade sizes, with clients able to place orders as small as 1 unit. To trade small lot sizes like nano lots, you will need to use the broker’s proprietary trading platform.